Great Tip to Sell a Home Fast

2009 April 29

Here’s a tip that for home owners that can will sell their home very fast. I’m talking about owner financing. Now before you hot the back button, hear me out. Offering owner financing does not mean you will have to wait 30 years for your money. The secret is to sell your private mortgage to a note buyer. So how do I sell my note, you might ask. Here are the keys to owning a mortgage note that is attractive for a note buyer to want to offer top dollar. 1) Be sure the buyer has good credit, 2) Be sure they put at least 10% down and 3) Keep meticulous records of their payments. You will need to let the mortgage note “season” (have some payment history), usually 3 to 12 mos. And yes many home buyers who need owner financing have good credit but can’t or won’t get a traditional mortgage, particularly self-employed buyers.

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